Jag Capital Management LLC Decreases Position in American Tower Corporation $AMT

Jag Capital Management LLC lessened its holdings in shares of American Tower Corporation (NYSE:AMT) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,823 shares of the real estate investment trust’s stock after selling 125 shares during the period. Jag Capital Management LLC’s holdings in American Tower were worth $2,171,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blossom Wealth Management raised its stake in American Tower by 1.8% in the second quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock valued at $575,000 after buying an additional 45 shares during the last quarter. TFG Advisers LLC raised its position in shares of American Tower by 0.3% in the 2nd quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock valued at $3,578,000 after purchasing an additional 47 shares during the last quarter. Novem Group raised its position in shares of American Tower by 3.8% in the 2nd quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 48 shares during the last quarter. Elmwood Wealth Management Inc. raised its position in shares of American Tower by 2.5% in the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock valued at $454,000 after purchasing an additional 50 shares during the last quarter. Finally, 4J Wealth Management LLC raised its holdings in shares of American Tower by 4.0% in the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust’s stock worth $283,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Raymond James Financial set a $250.00 target price on American Tower and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $241.06.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

American Tower Stock Down 2.0%

AMT opened at $183.03 on Tuesday. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The company has a fifty day moving average of $198.16 and a two-hundred day moving average of $210.57. The stock has a market capitalization of $85.70 billion, a price-to-earnings ratio of 66.56, a PEG ratio of 1.13 and a beta of 0.86.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business’s revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. American Tower’s dividend payout ratio is currently 247.27%.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.